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Open Access
Article
Publication date: 19 December 2023

Niluthpaul Sarker and S.M. Khaled Hossain

The study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.

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Abstract

Purpose

The study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.

Design/methodology/approach

The study sample consists of 131 companies from 10 manufacturing industries listed in Dhaka stock exchange (DSE). Using the multiple regression method, the study analyzed 1,193 firm-year observations from 2012 to 2021.

Findings

The outcome reveals that managerial ownership, foreign ownership, ownership concentration, board size, board independence, board diligence and auditor quality have a significant positive influence on firm value. In contrast, audit committee size has no significant influence on firm value.

Originality/value

The practical implications of the current study demonstrated that good corporate governance creates value and must be invigorated for the interest of all stakeholders. Policymakers should formulate specific guidelines regarding firms' ownership structure and audit quality issues.

Details

PSU Research Review, vol. 8 no. 3
Type: Research Article
ISSN: 2399-1747

Keywords

Article
Publication date: 7 May 2021

Md. Salman Sohel, Babul Hossain, Md. Kausar Alam, Guoqing Shi, Rubaiyat Shabbir, Md. Khaled Sifullah and Most. Monowara Begum Mamy

This study intends to explore the impact of occupation and income on informal migrants in the face of COVID-19 induced lockdown in Bangladesh and their coping strategies to…

Abstract

Purpose

This study intends to explore the impact of occupation and income on informal migrants in the face of COVID-19 induced lockdown in Bangladesh and their coping strategies to survive the pandemic situation.

Design/methodology/approach

The study adopted a qualitative research design in which four urban areas were chosen purposively from various parts of Dhaka city. The authors conducted 21 semi-structured in-depth interviews, four FGDs and eight months over participant observation for achieving study objectives. The four stages of data analysis used a thematic approach in the interpretive phenomenological analysis.

Findings

The results showed that respondents were massively affected due to loss of income and occupation in the period of induced lockdown. Besides, most people lost their earning sources entirely in this amid pandemic which bound them starvation in the mealtime along with several dynamic complications. The findings also revealed that they followed some surviving strategies such as taking loans, reducing expenses, consuming less food, selling land, jewelry, and goods, relatives and neighbor support, and government relief. Although these strategies somewhat supported them to struggle with the situation, their livelihood features became fragile immensely.

Research limitations/implications

The findings will be an important guiding principle for the policymakers, aid organizations and development practitioners to prepare development policies for vulnerable informal migrants in developing countries like Bangladesh.

Originality/value

This is the first study that explores the informal migrants’ occupation and income during COVID-19 induced lockdown in Bangladesh. This research also highlights coping strategies of the informal migrants to survive the pandemic situation.

Details

International Journal of Sociology and Social Policy, vol. 42 no. 5/6
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 8 December 2022

Md Aslam Mia, Tanzina Hossain, Zinnatun Nesa, Md Khaled Saifullah, Rozina Akter and Md Imran Hossain

Considering the existing evidence on the impact of female board members on the default risks of an organization, the purpose of this study is to investigate the effect of board…

Abstract

Purpose

Considering the existing evidence on the impact of female board members on the default risks of an organization, the purpose of this study is to investigate the effect of board gender diversity, alongside institutional characteristics and macroeconomic factors, on the financing costs of microfinance institutions (MFIs).

Design methodology approach

This study collected unbalanced panel data of 1,190 unique MFIs between 2010 and 2018 from the World Bank. The collected data, which covers a total of 95 developing and emerging countries, was thereafter analyzed using the pooled ordinary least squares and random effects model. To overcome endogeneity and omitted variable bias (e.g. time-invariant variables), the authors have also used the generalized method of moments and fixed effects model, respectively. Different proxies of board gender diversity and sub-sample analysis by regions were further undertaken to examine the robustness of the obtained results.

Findings

The findings of this study revealed that board gender diversity has a statistically significant negative effect on the financing costs of MFIs. This suggests that a gender-diverse board can generate cheaper funding for MFIs by minimizing their default risks through effective monitoring and strategic management. Furthermore, the negative impact of board gender diversity on financing costs appears to be more pronounced when there is a minimum of two female board members in the boardroom of MFIs. The results of this study remain consistent and valid regardless of alternate model specifications (e.g. sub-sample analysis, use of alternative proxies of board gender diversity and application of different estimators) and endogeneity issues. Ultimately, the findings in this study reiterate the importance of promoting and implementing gender diversity in the boardroom to minimize the financing costs of MFIs.

Originality value

This study investigated the relationship between board gender diversity and financing costs of MFIs by using relatively recent and global data. The minimum number of female board members required to significantly reduce the financing costs of MFIs was also identified.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 15 July 2021

Radwan Alkebsee, Adeeb A. Alhebry and Gaoliang Tian

Scholars have investigated the association between executives' incentives and earnings management. Most of the extant literature focuses on equity executives' incentives, while…

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Abstract

Purpose

Scholars have investigated the association between executives' incentives and earnings management. Most of the extant literature focuses on equity executives' incentives, while most of the earnings management literature focuses on accrual earnings management (AEM), not real earnings management (REM). This paper investigates the association between chief executive officers’ (CEOs) and chief financial officer (CFOs) cash compensation and REM and explores who has more influence on REM, the CEO or the CFO.

Design/methodology/approach

The authors use the data of all listed companies on the Shanghai and Shenzhen Stock Exchanges for the period from 2009 to 2017 and ordinary least squares regression as a baseline model and the Chow test to capture whether the CEO's or the CFO's cash compensation has more influence on REM. To address potential endogeneity issues, the authors use a firm-fixed effect technique and two-stage least squares regression.

Findings

The authors find that CEOs' and CFOs' cash compensation is significantly associated with REM, suggesting that paying non-equity compensation to the CEO and CFO is negatively associated with REM. The authors also find that the CFO's cash compensation has a more significant influence on REM than the CEO's cash compensation, suggesting that the CFO's accounting and financial knowledge strengthens his or her power on the quality of financial reporting.

Practical implications

The study contributes to the literature of agency and contract theories by using cash-based compensation to provide strong evidence that CEO's and CFO's compensation is associated with REM. It also contributes to the earnings management literature by examining the effect of CEOs' and CFOs' cash compensation on earnings management using proxies for REM-related activities. The study also contributes to the institutional theory by providing empirical evidence on the governance role of executives' cash compensation in deterring REM. Finally, it is the first to examine the relationship between CEO's and CFO's cash compensation and REM, and the first to explore who is more influential regarding REM in emerging markets, the CEO or the CFO.

Originality/value

As a response to the call for investigations of the role of non-equity-based compensation in earnings management and the call to consider non-developed institutional contexts in governance research, this study extends prior studies by providing novel evidence on the relationship between CEOs' and CFOs' non-equity compensation and REM in China's emerging market. The study documents that the CFO has a greater influence on REM than the CEO does.

Details

Journal of Accounting in Emerging Economies, vol. 12 no. 1
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 8 May 2023

Md Abubakar Siddique, Khaled Aljifri, Shahadut Hossain and Tonmoy Choudhury

In this study, the authors examine the relationships between market-based regulations and corporate carbon disclosure and carbon performance. The authors also investigate whether…

Abstract

Purpose

In this study, the authors examine the relationships between market-based regulations and corporate carbon disclosure and carbon performance. The authors also investigate whether these relationships vary across emission-intensive and non-emission intensive industries.

Design/methodology/approach

The study sample consists of the world's 500 largest companies across most major industries over a recent five-year period. Country-specific random effect multiple regression analysis is used to test empirical models that predict relationships between market-based regulations and carbon disclosure and carbon performance.

Findings

Results indicate that market-based regulations significantly and positively affect corporate carbon performance. However, market-based regulations do not significantly affect corporate carbon disclosure. This study also finds that the association between regulatory pressures and carbon disclosure and carbon performance varies across emission-intensive and non-emission-intensive industries.

Research limitations/implications

The findings of this study have key implications for policymakers, practitioners and future researchers in terms of understanding the factors that drive businesses to increase their carbon performance and disclosure. The study sample consists of only large firms, and future researchers can undertake similar studies with small and medium-sized firms.

Practical implications

The results of this study are expected to help business managers to identify the benefits of adopting market-based regulations. Regulators can use this study’s results to evaluate if market-based regulations effectively improve corporate carbon performance and disclosure. Furthermore, stakeholders may use this study to evaluate and improve their businesses' reporting of carbon disclosure and performance.

Originality/value

In contrast to current literature that has used command and control regulations as a proxy for regulation, this study uses market-based regulations as a proxy for climate change regulations. In addition, this study uses a more comprehensive measure of carbon disclosure and carbon performance compared to the previous studies. It also uses global multi-sector data from carbon disclosure project (CDP) in contrast to most current studies that use national data from annual reports of sample firms of specific sectors.

Details

Journal of Applied Accounting Research, vol. 25 no. 4
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 9 January 2009

P.R. Sharma and Gurminder Singh

Physical properties of a viscous fluid, e.g. viscosity and thermal conductivity change with temperature and in most of the studies concerned with natural convection, generally…

Abstract

Purpose

Physical properties of a viscous fluid, e.g. viscosity and thermal conductivity change with temperature and in most of the studies concerned with natural convection, generally, the simultaneous effect of temperature dependent viscosity, thermal conductivity have been neglected. Hence, the purpose of this paper is to investigate the simultaneous effects of varying viscosity and thermal conductivity on free convection flow of a viscous incompressible electrically conducting fluid and heat transfer along an isothermal vertical non‐conducting plate in the presence of exponentially varying internal heat‐generation and uniform transverse magnetic field.

Design/methodology/approach

The governing equations of motion and energy are transformed into ordinary differential equations using similarity transformation. The resulting boundary valued, coupled and non‐linear differential equations are converted into system of linear differential equations and solved using Runge‐Kutta fourth order technique along with shooting method.

Findings

It was found that: fluid velocity decreases with the increase in magnetic parameter or Prandtl number; fluid temperature increases with the increase in magnetic parameter; velocity and temperature profiles increase due to increase in heat generation parameter; varying viscosity and thermal conductivity modifies the flow and heat transfer characteristic; and skin‐friction and heat transfer are affected by simultaneous change in viscosity and thermal conductivity in presence/absence of exponentially varying heat generation.

Research limitations/implications

The present study is applicable to an incompressible viscous fluid flow and heat transfer with linearly varying viscosity and thermal conductivity.

Originality/value

This paper provides useful information on the physical properties of a viscous fluid with regard to viscosity and thermal conductivity change with temperature.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 19 no. 1
Type: Research Article
ISSN: 0961-5539

Keywords

Book part
Publication date: 20 May 2019

Rihab Grassa, Sherif El-Halaby and Khaled Hussainey

This chapter assesses the effects of corporate governance (CG) variables on the level of Corporate Social Responsibility Disclosure (CSRD), Shari'ah Supervisory Board Disclosure…

Abstract

This chapter assesses the effects of corporate governance (CG) variables on the level of Corporate Social Responsibility Disclosure (CSRD), Shari'ah Supervisory Board Disclosure (SSBD), and Financial Disclosure (FD) for Islamic banks. This study, based on a sample of 95 Islamic banks, assessed this in 2013. The findings suggest that CG mechanisms, firm's age, auditor and shari'ah auditing department are effective in influencing SSBD, CSRD, and FD practices in Islamic banks. This chapter encourages regulators to improve CG mechanisms in their Islamic banking systems through the optimization of ownership structure (dispersed ownership) and the board's characteristics in order to promote transparency and disclosure. Moreover, the findings support theoretical arguments that firms disclose CG information in order to mitigate information asymmetry and agency costs and to improve investor confidence in the reported financial statements. The empirical evidence of this study enhances the understanding of the CG disclosure environment in Islamic banks as a promoting new financial system.

Details

Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice
Type: Book
ISBN: 978-1-78973-007-4

Keywords

Book part
Publication date: 8 September 2017

Sherif El-Halaby, Khaled Hussainey and Abdullah Al-Maghzom

The authors measure the impact of culture on Sharia; Social and Financial Disclosure (SSFD) of Islamic Banks (IBs) around the world.Content analysis is used to measure levels of…

Abstract

The authors measure the impact of culture on Sharia; Social and Financial Disclosure (SSFD) of Islamic Banks (IBs) around the world.

Content analysis is used to measure levels of disclosure for a sample of 136 IBs of 25 countries for years 2013 and 2014. Different cultural measures are used. These include secrecy/transparency as suggested by Gray (1988) and Hofstede (1980, 1983, 2001, 2010)’s culture dimensions which include: Power Distance; Individualism; Masculinity; Uncertainty Avoidance; Long-Term Ordination and Indulgence. Ordinary least square (OLS) regression is used to test the research hypotheses.

After controlling bank-specific, corporate governance and country characteristics, the authors found that Hofstede’s culture dimensions have a significant impact on SSFD. They also found that Gray's transparency dimension positively influence levels of sharia, social and aggregated disclosure. Therefore, they conclude that culture influences levels of disclosure in IBs.

This study has policy implications for managers and regulators of Islamic banking industry.

This study is the first to use both Gray and Hofstede models in the context of IBs around the world. It also the first to explore the impact of culture on three different disclosure levels for IBs.

Details

Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-78714-527-6

Keywords

Article
Publication date: 23 May 2024

Mohamed Hessian, Alaa Mansour Zalata and Khaled Hussainey

This study examines the effect of non-audit fees (NAF) provisions on interest payments classification shifting. In addition, we investigate to what extent the NAF economic bonding…

Abstract

Purpose

This study examines the effect of non-audit fees (NAF) provisions on interest payments classification shifting. In addition, we investigate to what extent the NAF economic bonding and interest payments classification shifting is contingent on internal governance and firm financial well-being.

Design/methodology/approach

This study employed probit regression using a sample of UK non-financial firms indexed in FT UK (500) over the period from 2009 to 2017.

Findings

We find evidence that the economic bonding of NAF between external auditors and their clients is more likely to encourage managers in UK firms to manipulate operating cash flows through interest payment classification shifting. In addition, and interestingly, our results evince that classification-shifting may be the less costly and soft choice of managers in firms with strong governance and charging higher NAF. Furthermore, we show that financially distressed firms associated with their auditors in purchasing non-audit services are more prone to attempting to manipulate and engage in interest payments classification-shifting. Our result did not provide a significant effect of external auditor tenure on the interest payments classification shifting.

Research limitations/implications

Our findings are subject to the following limitations: First, this study uses a composite index to measure the quality of internal corporate governance. It focuses only on the board of directors, but this index does not reflect other internal governance mechanisms. Second, this study is subject to limited study time due to the implementation of key IFRS standards (IFRS 9 Financial Instruments and IFRS 15 Revenue from Contract with Customers) from 2018–2019.

Practical implications

This study was motivated by the UK’s Financial Reporting Council regulators' pressure on the Big 4 audit firms to move more audit time into main auditing activities, reduce cross-selling to audit clients and separate their audit practices by 2024. Overall, we provide new evidence that directs a close spotlight on the threats of NAF that are potentially useful to regulators, shareholders and investors.

Originality/value

It is motivated by the UK’s Financial Reporting Council regulators' pressure on the Big 4 to move more audit firm time into main auditing activities, reduce cross-selling to audit clients and separate their audit practices by 2024. Overall, we provide new evidence that directs a close spotlight on the threats of NAS that are potentially useful to regulators, shareholders and investors.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

Keywords

Open Access
Article
Publication date: 3 August 2021

Md. Tanvir Alam Himel, Shahrin Ashraf, Tauhid Ahmed Bappy, Md Tanaz Abir, Md Khaled Morshed and Md. Nazmul Hossain

While the usage of mobile financial services (MFSs) is increasing rapidly in developing countries, research on users' attitudes and behavioral intention to adopt MFS is limited…

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Abstract

Purpose

While the usage of mobile financial services (MFSs) is increasing rapidly in developing countries, research on users' attitudes and behavioral intention to adopt MFS is limited. Thus, this study aims to investigate customers' attitudes and intentions to adopt MFS from a Bangladeshi perspective.

Design/methodology/approach

A mixed research design was employed to conduct this study. Data of 196 respondents were analyzed using partial least squares (PLS) path modeling. For the quantitative part, data collection was conducted using non-probability sampling through a structured survey questionnaire. A focus group discussion with ten MFS users from divergent backgrounds was conducted to validate the quantitative findings.

Findings

This paper integrated both the technology acceptance model (TAM) and innovation resistance theory (IRT) to validate the results. The authors found that perceived usefulness (PU), perceived ease of use (PEOU) and perceived trust (PT) positively contribute to customers' attitudes toward MFS adoption. Besides, barriers to acceptance had unfavorable effects on users' attitudes and usage intentions. Furthermore, a focus group discussion revealed valuable insights on the constructs used in this study.

Practical implications

The study results have implications for both MFS providers and researchers. The outputs and recommendations presented in this paper will encourage the MFS practitioners to stimulate users' attitudes and behavioral intentions by ensuring useful, easy to use, credible and risk-free mobile payment platforms.

Originality/value

This is one of the very few studies in Bangladesh that have taken a contemporary and emerging research topic, providing theoretical, methodological and practical contributions regarding the determinants and consequences of attitude toward using MFSs.

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